Cost Classification Loring Company incurred the following costs last year Costs Amounts Direct materials $213,000 Factory rent 27,000 Direct labor 124,000 Factory utilities 6,700 Supervision in the factory 52,000 Indirect labor in the factory 31,000 Depreciation on factory equipment 6,300 Sales commissions 26,000 Sales salaries 63,000 Advertising 32,000 Depreciation on the headquarters building 12,000 Salary of the corporate receptionist 35,000 Other administrative costs 185,000 Salary of the factory receptionist 26,000 Required 1 Classify each of the costs using the table provided Be sure to total the amounts in each column If an amount box does not require an entry, leave it blank Direct materials is shown as an example Loring Company Costs Product Cost Direct Materials Product Cost Direct Labor Product Cost Manufacturing Overhead Period Cost Selling Expense Period Cost Administrative Expense Direct materials $213,000 $fill in the blank 579c56060ff5fb5 1 $fill in the blank 579c56060ff5fb5 2 $fill in the blank 579c56060ff5fb5 3 $fill in the blank 579c56060ff5fb5 4 Factory rent fill in the blank 579c56060ff5fb5 5 fill in the blank 579c56060ff5fb5 6 fill in the blank 579c56060ff5fb5 7 fill in the blank 579c56060ff5fb5 8 fill in the blank 579c56060ff5fb5 9 Direct labor fill in the blank 579c56060ff5fb5 10 fill in the blank 579c56060ff5fb5 11 fill in the blank 579c56060ff5fb5 12 fill in the blank 579c56060ff5fb5 13 fill in the blank 579c56060ff5fb5 14 Factory utilities fill in the blank 579c56060ff5fb5 15 fill in the blank 579c56060ff5fb5 16 fill in the blank 579c56060ff5fb5 17 fill in the blank 579c56060ff5fb5 18 fill in the blank 579c56060ff5fb5 19 Supervision in the factory fill in the blank 579c56060ff5fb5 20 fill in the blank 579c56060ff5fb5 21 fill in the blank 579c56060ff5fb5 22 fill in the blank 579c56060ff5fb5 23 fill in the blank 579c56060ff5fb5 24 Indirect labor in the factory fill in the blank 579c56060ff5fb5 25 fill in the blank 579c56060ff5fb5 26 fill in the blank 579c56060ff5fb5 27 fill in the blank 579c56060ff5fb5 28 fill in the blank 579c56060ff5fb5 29 Depreciation on factory equipment fill in the blank 579c56060ff5fb5 30 fill in the blank 579c56060ff5fb5 31 fill in the blank 579c56060ff5fb5 32 fill in the blank 579c56060ff5fb5 33 fill in the blank 579c56060ff5fb5 34 Sales commissions fill in the blank 579c56060ff5fb5 35 fill in the blank 579c56060ff5fb5 36 fill in the blank 579c56060ff5fb5 37 fill in the blank 579c56060ff5fb5 38 fill in the blank 579c56060ff5fb5 39 Sales salaries fill in the blank 579c56060ff5fb5 40 fill in the blank 579c56060ff5fb5 41 fill in the blank 579c56060ff5fb5 42 fill in the blank 579c56060ff5fb5 43 fill in the blank 579c56060ff5fb5 44 Advertising fill in the blank 579c56060ff5fb5 45 fill in the blank 579c56060ff5fb5 46 fill in the blank 579c56060ff5fb5 47 fill in the blank 579c56060ff5fb5 48 fill in the blank 579c56060ff5fb5 49 Depreciation on the headquarters building fill in the blank 579c56060ff5fb5 50 fill in the blank 579c56060ff5fb5 51 fill in the blank 579c56060ff5fb5 52 fill in the blank 579c56060ff5fb5 53 fill in the blank 579c56060ff5fb5 54 Salary of the corporate receptionist fill in the blank 579c56060ff5fb5 55 fill in the blank 579c56060ff5fb5 56 fill in the blank 579c56060ff5fb5 57 fill in the blank 579c56060ff5fb5 58 fill in the blank 579c56060ff5fb5 59 Other administrative costs fill in the blank 579c56060ff5fb5 60 fill in the blank 579c56060ff5fb5 61 fill in the blank 579c56060ff5fb5 62 fill in the blank 579c56060ff5fb5 63 fill in the blank 579c56060ff5fb5 64 Salary of the factory receptionist fill in the blank 579c56060ff5fb5 65 fill in the blank 579c56060ff5fb5 66 fill in the blank 579c56060ff5fb5 67 fill in the blank 579c56060ff5fb5 68 fill in the blank 579c56060ff5fb5 69 Total $fill in the blank 579c56060ff5fb5 70 $fill in the blank 579c56060ff5fb5 71 $fill in the blank 579c56060ff5fb5 72 $fill in the blank 579c56060ff5fb5 73 $fill in the blank 579c56060ff5fb5 74 2 What was the total product cost for last year The total product cost is $fill in the blank ed610d0a9f9cfac 1 3 What was the total period cost for last year The total period cost is $fill in the blank ed610d0a9f9cfac 2 4 If 30,000 units were produced last year, what was the unit product cost Round your answer to two decimal places The total unit product cost is $fill in the blank ed610d0a9f9cfac 3

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Cost Classification Loring Company incurred the following costs last year: Costs Amounts Direct materials $213,000 Factory rent 27,000 Direct labor 124,000 Factory utilities 6,700 Supervision

Cost Classification

Loring Company incurred the following costs last year:

Costs	Amounts
Direct materials	$213,000
Factory rent	27,000
Direct labor	124,000
Factory utilities	6,700
Supervision in the factory	52,000
Indirect labor in the factory	31,000
Depreciation on factory equipment	6,300
Sales commissions	26,000
Sales salaries	63,000
Advertising	32,000
Depreciation on the headquarters building	12,000
Salary of the corporate receptionist	35,000
Other administrative costs	185,000
Salary of the factory receptionist	26,000

Required:

1. Classify each of the costs using the table provided. Be sure to total the amounts in each column. If an amount box does not require an entry, leave it blank. Direct materials is shown as an example.

Loring Company
Costs	Product Cost: Direct Materials	Product Cost: Direct Labor	Product Cost: Manufacturing Overhead	Period Cost: Selling Expense	Period Cost: Administrative Expense
Direct materials	$213,000	$fill in the blank 579c56060ff5fb5_1	$fill in the blank 579c56060ff5fb5_2	$fill in the blank 579c56060ff5fb5_3	$fill in the blank 579c56060ff5fb5_4
Factory rent	fill in the blank 579c56060ff5fb5_5	fill in the blank 579c56060ff5fb5_6	fill in the blank 579c56060ff5fb5_7	fill in the blank 579c56060ff5fb5_8	fill in the blank 579c56060ff5fb5_9
Direct labor	fill in the blank 579c56060ff5fb5_10	fill in the blank 579c56060ff5fb5_11	fill in the blank 579c56060ff5fb5_12	fill in the blank 579c56060ff5fb5_13	fill in the blank 579c56060ff5fb5_14
Factory utilities	fill in the blank 579c56060ff5fb5_15	fill in the blank 579c56060ff5fb5_16	fill in the blank 579c56060ff5fb5_17	fill in the blank 579c56060ff5fb5_18	fill in the blank 579c56060ff5fb5_19
Supervision in the factory	fill in the blank 579c56060ff5fb5_20	fill in the blank 579c56060ff5fb5_21	fill in the blank 579c56060ff5fb5_22	fill in the blank 579c56060ff5fb5_23	fill in the blank 579c56060ff5fb5_24
Indirect labor in the factory	fill in the blank 579c56060ff5fb5_25	fill in the blank 579c56060ff5fb5_26	fill in the blank 579c56060ff5fb5_27	fill in the blank 579c56060ff5fb5_28	fill in the blank 579c56060ff5fb5_29
Depreciation on factory equipment	fill in the blank 579c56060ff5fb5_30	fill in the blank 579c56060ff5fb5_31	fill in the blank 579c56060ff5fb5_32	fill in the blank 579c56060ff5fb5_33	fill in the blank 579c56060ff5fb5_34
Sales commissions	fill in the blank 579c56060ff5fb5_35	fill in the blank 579c56060ff5fb5_36	fill in the blank 579c56060ff5fb5_37	fill in the blank 579c56060ff5fb5_38	fill in the blank 579c56060ff5fb5_39
Sales salaries	fill in the blank 579c56060ff5fb5_40	fill in the blank 579c56060ff5fb5_41	fill in the blank 579c56060ff5fb5_42	fill in the blank 579c56060ff5fb5_43	fill in the blank 579c56060ff5fb5_44
Advertising	fill in the blank 579c56060ff5fb5_45	fill in the blank 579c56060ff5fb5_46	fill in the blank 579c56060ff5fb5_47	fill in the blank 579c56060ff5fb5_48	fill in the blank 579c56060ff5fb5_49
Depreciation on the headquarters building	fill in the blank 579c56060ff5fb5_50	fill in the blank 579c56060ff5fb5_51	fill in the blank 579c56060ff5fb5_52	fill in the blank 579c56060ff5fb5_53	fill in the blank 579c56060ff5fb5_54
Salary of the corporate receptionist	fill in the blank 579c56060ff5fb5_55	fill in the blank 579c56060ff5fb5_56	fill in the blank 579c56060ff5fb5_57	fill in the blank 579c56060ff5fb5_58	fill in the blank 579c56060ff5fb5_59
Other administrative costs	fill in the blank 579c56060ff5fb5_60	fill in the blank 579c56060ff5fb5_61	fill in the blank 579c56060ff5fb5_62	fill in the blank 579c56060ff5fb5_63	fill in the blank 579c56060ff5fb5_64
Salary of the factory receptionist	fill in the blank 579c56060ff5fb5_65	fill in the blank 579c56060ff5fb5_66	fill in the blank 579c56060ff5fb5_67	fill in the blank 579c56060ff5fb5_68	fill in the blank 579c56060ff5fb5_69
Total	$fill in the blank 579c56060ff5fb5_70	$fill in the blank 579c56060ff5fb5_71	$fill in the blank 579c56060ff5fb5_72	$fill in the blank 579c56060ff5fb5_73	$fill in the blank 579c56060ff5fb5_74

2. What was the total product cost for last year? The total product cost is $fill in the blank ed610d0a9f9cfac_1.

3. What was the total period cost for last year? The total period cost is $fill in the blank ed610d0a9f9cfac_2.

4. If 30,000 units were produced last year, what was the unit product cost? Round your answer to two decimal places. The total unit product cost is $fill in the blank ed610d0a9f9cfac_3.